Trump Dismisses 'Little War' With Iran as Borrowing Costs Rise | Daybreak Europe 9/1/2026

Watch on YouTube ↗  |  September 01, 2026 at 07:01  |  46:04  |  Bloomberg Markets
Speakers
Ven — Strategist
Jensen Huang — CEO, NVIDIA
Robert Kaplan — Vice Chair, Goldman Sachs; former President, Federal Reserve Bank of Dallas
Lale Akoner — Global Market Analyst, eToro
Zoe

Summary

Bloomberg Daybreak Europe covers a global bond selloff as oil and gas prices climb on renewed U.S.-Iran tensions, with yields at multi-decade highs and markets pricing a possible Fed hike. Nvidia's $3.5 billion investment in MediaTek and Anthropic's $35 billion Lambda compute deal highlight AI chip and compute demand themes. Guests including Rob Kaplan and Lale Akoner see upward pressure on Treasury yields, while Lale also sees dollar weakness and gold strength. European inflation supports an ECB hike next week.

  • Global sovereign yields climb to almost two-decade highs as higher oil and gas prices fuel inflation concerns.
  • U.S.-Iran clashes and Strait of Hormuz disruptions push Brent crude above $91 and European gas above €70.
  • Japan's 10-year JGB yield tops 3% for the first time since 1996, with pressure on the BOJ to hike.
  • Nvidia invests $3.5 billion in MediaTek, and Anthropic signs a $35 billion compute deal with Nvidia-backed Lambda.
  • Robert Kaplan says the Fed is about 50bp from neutral and leaning toward a September hike.
  • Lale Akoner expects long-end Treasury yields to stay pressured, the dollar to fall, and gold to rise.
  • Euro-area inflation is expected to rise, giving the ECB room to hike next week and likely after.
  • Shein falls in its Hong Kong debut amid valuation concerns.
Ideas
Ven Strategist 3:13
Global bond yields face upward pressure.
Multiple drivers, including Middle East skirmishes, European natural gas prices above €70, the 10-year JGB yield above 3%, and hawkish comments from Kevin Warsh, are acting in favor of higher global bond yields. The immediate inflation fallout from oil and gas puts pressure on the front end, and JGB swap flows transmit upward pressure to U.S. Treasuries and European sovereign bonds.
TLT European sovereign bonds HIGH
Ven Strategist 4:55
BOJ needs back-to-back rate hikes.
The Bank of Japan is behind the curve and not near neutral, so it needs to signal back-to-back rate hikes. Even conservative estimates put neutral in Japan around 150, meaning JGB yields are under upward pressure and that pressure transmits into other sovereign curves.
Japan 10-year government bonds HIGH
Jensen Huang CEO, NVIDIA 7:44
MediaTek is a top AI chipmaker.
Nvidia's $3.5 billion investment in MediaTek is grounded in a deep partnership, not circular financing. MediaTek is already profitable and successful, is the world's best SoC maker, and brings power and speed from data centers to edge devices, making it a top AI chipmaker.
2454.TW HIGH
Lale Akoner Global Market Analyst, eToro 29:52
Long-end Treasury yields stay pressured.
Treasury buybacks are temporary interventions and do not solve the structural problem of capital allocating toward long-dated debt issued by hyperscalers. Combined with higher inflation and fiscal risk, this puts upward pressure on long-end Treasury yields and supports rates staying higher for longer.
U.S. Long-End Treasuries HIGH
Lale Akoner Global Market Analyst, eToro 30:51
Dollar down, gold up on intervention.
Markets are right that the Treasury's long-end intervention is temporary. Lower demand for U.S. dollar-denominated assets is taking the U.S. dollar down and gold higher, because intervention in one part of the market shows up as pressure in other assets.
GLD HIGH
Lale Akoner Global Market Analyst, eToro 30:51
Dollar down, gold up on intervention.
Markets are right that the Treasury's long-end intervention is temporary. Lower demand for U.S. dollar-denominated assets is taking the U.S. dollar down and gold higher, because intervention in one part of the market shows up as pressure in other assets.
UUP HIGH
Lale Akoner Global Market Analyst, eToro 31:42
Energy prices keep rising.
Europe is an energy importer and the Middle East conflict has not ended, so energy prices are going higher. That will push the energy component of euro-area inflation higher.
XLE MED
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This Bloomberg Markets video, published September 01, 2026, features Ven, Jensen Huang, Lale Akoner discussing TLT, European sovereign bonds, Japan 10-year government bonds, 2454.TW, U.S. Long-End Treasuries, GLD, UUP, XLE. 7 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Ven, Jensen Huang, Lale Akoner  · Tickers: TLT, European sovereign bonds, Japan 10-year government bonds, 2454.TW, U.S. Long-End Treasuries, GLD, UUP, XLE